Cash takes reigns of school system officially - WMC Action News 5 - Memphis, Tennessee

Reported by Andrew Douglas

Cash takes reigns of school system officially

Memphis City Schools' new superintendent signed his contract Monday night, including a clause that will let him walk away.
It is a four year deal worth $280,000 a year after salary, retirement and benefits are added together.

With his signature, Dr. Kriner Cash became Memphis City Schools twelfth superintendent with an ambitious week ahead.

"I got 60 questions I have to ask staff over these next three days. It's going to be the most intense questions they've had in their career," Cash said. 

The idea is to understand where the district is six weeks before school .

His contract starts July 1st. With his base salary, retirement, car allowance, and benefits, Dr. Cash will make about $280,000 a year plus performance based incentives that will be agreed upon with the school board.

One of the most interesting aspects of his contract is the buyout clause. If the board votes him out before July 2010, he gets 18 months salary or about $420,000. After July of 2010, it is 12 months salary worth $280,000.

Same deal if Memphis City Schools merge or consolidate. He gets an 18 month severance before July 2010 and a 1 year severance after that date.

The schools will not have to pay a dime if there is termination for just cause like insubordination or if he resigns or retires.

But the concern right now is not about a severance package, the concern is funding the school system.

He has said he will come up with two plans. One if they get funding, another if they do not. 

Click here to e-mail Andrew Douglas.

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